KINGSTON, Jamaica – Member of Parliament for St Catherine Southern, the People’s National Party’s Fitz Jackson has asked the Bank of Jamaica to consider implementing minimum service standards for Automated Teller Machines (ATMs).

Jackson made the call on Tuesday in a lengthy motion in the House of Representatives while citing growing complaints from members of the public about malfunctioning ATMs that are often out of cash.

The veteran MP noted that with the insistence by banks and other financial institutions that their customers utilise ATMs, many Jamaicans have been forced to rely on these machines to access their salaries and to withdraw cash for their daily expenses and other financial obligations. He outlined that the financial institutions “have sought to discourage and reduce services inside the banking halls while encouraging the use of ATMs”.

“Whereas many of the automated teller machines or their equivalent regularly malfunction, causing inconvenience, difficulties and hardships to account holders. Be it …resolved that the BOJ establishes minimum service standards for the operations of its licensees with accompanying sanctions where none currently exists,” Jackson said.

He suggested that the Economy and Production Committee of the Parliament convenes a meeting with the BOJ within 45 days of his motion being read in the House to discuss that and other problems facing Jamaicans who do business with financial institutions.

He also said a “large and growing number of account holders” at banks and other financial institutions in Jamaica have been experiencing substantial losses of nearly $1 billion from their accounts.

Jackson told the House that many account holders are experiencing difficulties in recovering their losses; in many instances where reported losses or portions thereof are returned to account holders after many months, “severe hardships” are experienced by the account holders during the intervening months.